Cerebras stock hit a post-IPO low of $146.98 on October 12, 2026, down 62% from its first-day intraday high of $386 and approximately 21% below its $185 IPO price. In just five months of trading, the company’s market capitalization fell from around $95 billion at its peak to approximately $39 billion. Three key factors explain this decline: the expiration of IPO lock-up periods, insider sales totaling roughly $84 million around October 1, and intensifying competition from Nvidia, with a SemiAnalysis report confirming critical workloads shifting to Nvidia’s technology. Founded in 2015 and based in Sunnyvale, California, Cerebras counts OpenAI and Amazon Web Services among its customers with multi-year compute capacity contracts.
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